A look at GLOBAL DOOM around the World

US-Black Thursday begins at IBM thousands could be laid off-Link

LONDON — Vandals attacked the home of former Royal Bank of Scotland head Fred Goodwin, smashing windows at the house of the ex-CEO whose 700,000 pound ($1.2 million) annual pension has prompted public outrage.

Meanwhile, the British division of HSBC PLC said that it may lay off as many as 1,200 people, or 2 percent of its British work force, following a review of operations. The Unite union claimed that 2,900 staffers would be affected..

Tempers flare as pain spreads in Europe

U.S. cities deal with a surge in shanty towns

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PARIS — Striking French workers for the U.S. manufacturer 3M held their boss hostage amid labor talks at a plant south of Paris, as anger over layoffs and cutbacks mounted. While the situation at the 3M plant outside Pithiviers was calm, workers marched on the presidential palace in Paris and tires were set afire by Continental AG employees whose auto parts factory was being shut down.

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BUCHAREST, Romania — Crisis-hit Romania will receive €20 billion in loans from a group of lenders led by the International Monetary Fund. The money will bolster government finances hard hit by the world financial crisis. The IMF agreed to a two-year bailout loan of €12.95 billion ($17.49 billion). Another €5 billion will come from the European Union, €1.5 billion from the World Bank, and the rest from the European Bank for Reconstruction and Development. Romania is the third EU member to receive an IMF-led bailout loan after Hungary and Latvia. Eastern Europe has struggled with falling growth, sagging currencies and political turmoil from the crisis.

BERLIN — German chemical company BASF SE said that it will reduce production because of weak order levels. The new cuts follow earlier reductions of more than 25 percent worldwide.

TOKYO — Japan's exports fell by nearly half in February from a year earlier — a record drop — dragged down by plunging auto shipments to the U.S. and Europe.

DUBAI, United Arab Emirates — Cargo handler DP World said that business at its ports dropped 8 percent in the first two months of this year as global trade evaporates because of the global economic slump. The slowdown shows no signs of easing.

OSLO — Norway's central bank lowered its key interest rate by half a percentage point to 2 percent, citing a deteriorating outlook for the global economy.

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